COP 28 Event: Integrating Natural Capital Accounting (NCA) and Climate Change

COP 28 Event

Sunday 03 / 12 – Spain Pavilion

15.30 – 16.30 (60 mins, Dubai time /  from 12.30 Bilbao time)

Abstract: Natural Capital Accounting (NCA) and climate change represent critical facets of modern environmental stewardship and economic planning. The depletion of natural resources and the escalating threats of biodiversity loss necessitate a concerted effort to recognize and account for the value of Earth’s ecosystems. This imperative takes center stage in ensuring the sustainable management of our planet’s natural capital.

At the forefront of this movement is the concept of Natural Capital Accounting, acknowledged for its pivotal role in bridging the gap between environmental considerations and economic decision-making. By delving into the strategies and methodologies essential for integrating natural capital into national and corporate balance sheets, NCA establishes a framework for comprehensively valuing the services provided by the environment. From clean water to carbon sequestration, NCA aims to foster a more harmonious relationship between human development and nature.

This emphasis on recognizing natural capital and ecosystem services becomes particularly crucial in the context of climate change. COP28 in Dubai provides a strategic platform for exploring the intersections of NCA and climate change. The event highlights the importance of NCA, specifically the System of Environmental-Economic Accounts (SEEA), in developing climate data integrated with economic information. 

Participants 

1. Bert Kroese (IMF), IMF Chief Statistician and from Chair of the UN Committee of Experts on Environmental and Economic Accounts
2. Ferdinando Villa ( BC3 with preregistered video message)
3. Maria Jose Sanz (Scientific Director of BC3)  
4. Alessandra Alfieri (IMF) → Moderator unless Bert delegates to her
5. Frank Martin (ESA) → Invitation pending
6. Kanta Kumari Rigaud (WB)